Valeant Pharmaceuticals to report fourth-quarter results next week + MORE Mar 7th

OTTAWA – A new report by investment firm BlackRock suggests most women lack confidence when it comes to making decisions on investing.
“We are seeing more and more women categorize themselves as savers versus investors and they’re sitting on the sidelines in cash,” says Karrie Van Belle, managing director at BlackRock Canada.
“Over time, cash is likely not going to get you where you need to get to for your retirement.”
The BlackRock survey found that of those polled who have started saving, men have saved nearly double what women have.
Why women lag in retirement planning »
“What we need to be helping women do is have a bit more confidence to take those first steps, ask those questions, get invested and understand the priority they need to put behind it,” she said.
The poll found 44 per cent of women reported confidence in their financial decision-making, compared to 55 per cent of men.
As women get older, however, they gain confidence in their financial savvy and close the gap with men…

LAVAL, Que. – Embattled company Valeant Pharmaceuticals plans to discuss its fourth-quarter financial results and update its 2016 earnings estimates on March 15.
The announcement was delayed by two weeks because of the return of chief executive Michael Pearson, who returned recently from a two-month medical leave.
Pearson announced his return on Feb. 28, one day before Valeant had scheduled the financial report and conference call.
Valeant announced five days earlier that it had to restate its financial results for 2014 and 2015 after a review found about US$58 million of sales to U.S. mail-order pharmacy Philidor were recognized at the wrong time.
The Laval, Que.-based company also confirmed it is being investigated by the U.S. Securities and Exchange Commission in a separate probe into accounting and inventory issues at Salix Pharmaceuticals, which Valeant bought for US$11 billion last year.
Valeant is also under investigation by U.S. Attorney’s offices in Massachusetts and New York, as well as Congress, as part of their probes into price increases for certain specialty drugs…

TORONTO – Canada’s largest stock market continues to outpace its American counterparts, with a triple-digit gain this morning.
The Toronto Stock Exchange’s S&P/TSX index was up 162.03 points or 1.2 per cent after about two hours of trading, rising to 13,374.53.
In New York, the major indexes were hovering just above or below Friday’s close.
The Dow Jones industrial average was up 19.52 points at 17,026.29, the broader S&P 500 composite index was down 3.34 points at 1,996.65 and the Nasdaq composite index was down 9.59 points at 4,707.44.
The Canadian dollar was at 75.10 cents US, up 0.05 of a U.S. cent.
The April crude contract was up $1.11 at US$37.03 per barrel and April natural gas was up four cents at US$1.70 per mmBtu.
The April gold contract fell $2.80 to US$1,266.90 an ounce.
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Q: My sister is the executor of my mother’s will and I’m expecting an inheritance. But it’s been more than two years and I haven’t received anything. My sister isn’t telling me anything. What are my rights to disclosure? Do I just wait, wondering what the hell is going on?
— Livid in London, Ont.
A: Absolutely not, says Barry Corbin, a Toronto-based estates lawyer. “Beneficiaries have important rights of disclosure—known as accounting.” Among other things, this includes what assets the executor started with, what assets were sold, details of all amounts received and paid out, and what is available for distribution to the beneficiaries. If your sister has a lawyer assisting her with her executor duties, you should be able to contact that lawyer for answers, says Corbin. But if you’re being stymied in all efforts to obtain information, “there are formal procedures to force an accounting that a good estate litigation lawyer can initiate,” he advises.
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